Google Acquiring Tony Fadell-Founded Nest for $3.2 Billion
Big news! @Google acquiring Nest to help fulfill our goal of reinventing unloved home products. Nest will stay Nest. http://t.co/0L8hNBhmYc — Nest (@nest) January 13, 2014
Larry Page, CEO of Google, said: "Nest's founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. They’re already delivering amazing products you can buy right now--thermostats that save energy and smoke/CO alarms that can help keep your family safe. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!"
According to Re/code, Nest has raised more than $80 million in venture funding and was scheduled to close another $150 million round soon.
Update: Nest has posted an article about what will happen to the company going forward, and perhaps most importantly, addressing what customer data will be shared with Google:
Will Nest customer data be shared with Google?
Re/code reports that Google was the only serious bidder for Nest and Apple was not interested in the company.